AktiVax, also known as Aktiv Pharma Group, a government-backed rescue autoinjector manufacturer, has announced the shutdown of “substantially all of its operations” and the layoff of around 70 employees.
The decision to close three manufacturing facilities and lay off staff in Broomfield and Fort Collins, Colorado, is attributed to “unexpected circumstances.”
AktiVax primarily focuses on its autoinjector ARAI, which is designed for single-hand, single-step activation. The company has secured several federal contracts in recent years, totaling over $275 million since 2018.
These contracts include projects related to developing autoinjector treatments for exposure to nerve agents and supplying nerve agent antidotes to the Strategic National Stockpile.
The closure of AktiVax’s operations highlights the challenges and uncertainties faced by government-backed healthcare companies, even in sectors critical to national security and public health.
The decision to shut down operations and lay off employees reflects the complexities of operating in the highly regulated and competitive healthcare industry.